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Indicators

Heiken Ashi w/ Doji Spotter - indicator for MetaTrader 4

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Views:
30587
Rating:
votes: 5
Published:
2011.07.28 13:29
Updated:
2016.11.22 07:32

Original Author:

MetaQuotes

Modified By:

Tim Welch

This is the standard Heiken Ashi, but with the option to spot Dojis and color them differently.

Basically, if the body of the candle is less than a certain percentage of the total range for that candle, then it's a doji. That's the premise behind this. A Doji for Heiken Ashi is typically almost no body at all, with a long head and tail. I default the value to 10% of the total range, but I personally have been testing with the value at 4%. YMMV.

Options:

Image:



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